San Francisco-based WebOps platform Pantheon announced Tuesday that it raised $100 million in a Series E round at a valuation of $1 billion. The latest raise comes courtesy of SoftBank’s Vision Fund II.
Pantheon, founded in 2010, set out to find a better way to build and launch websites. The platform’s automated workflows aim to eliminate traditionally long development cycles and encourage collaboration. Web development cycles often have a tendency to extend over a period of a couple months to several years, the company noted.
“This last year has shown all of us the untapped potential of the open web. Some of the largest companies in the world have successfully pivoted to digital-first strategies,” Zack Rosen, co-founder and CEO of Pantheon, said in a company blog post.
Pantheon’s suite of tools allows for enterprises to manage a single website or thousands of websites across multiple teams in one platform. The company’s cloud native software also covers governance and security capabilities.
All things considered, these tools enable development teams to create, test, deploy and run live sites with an incredibly fast hosting speed, according to the company.
“CMOs are under growing pressure to drive revenue and growth, but their company websites — the lynchpin to their digital strategies — are often slow and difficult to keep up-to-date with the demands of modern business,” Rosen said in a statement. “We knew there had to be a better way to empower web teams. When web teams work seamlessly together, they can deliver incredible digital experiences that drive revenue growth.”
Pantheon runs sites in the cloud for over 12,000 businesses. The company’s list of clients include corporate giants like DocuSign, Patagonia, MGM and Clorox.
“The future of the web isn’t complicated: remove legacy barriers to empower businesses to instantly reach any customer, anywhere across the globe,” Rosen continued.
Following the latest raise, the company will invest in the expansion of its product development and customer success teams.
“We see collaboration, seamless workflows, and cloud-based software as the keys to unlocking the true potential for our customers’ websites. The fun is only just beginning,” Rosen continued.
Pantheon has raised $200 million in financing to date, according to Crunchbase.
